## BIRMINGHAM BUDDHIST CENTRE TRUSTEES’ ANNUAL REPORT 2022/2023 ## CONTENTS Reference and administrative details Structure, governance and management Objectives, activities and achievements Financial review Accounting and reporting by charities Financial statements and notes 1 ## REFERENCE AND ADMINISTRATIVE DETAILS ## STRUCTURE, GOVERNANCE AND MANAGEMENT 2 ## Recruitment and appointment of trustees ## Induction and training of trustees The Essential Trustee - What you need to know and what you need to do ## OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS Principal purpose of the charity Main activities, undertaken to further the purpose and for public benefit, and our achievements 3 Providing for the public: teachings, community, wellbeing Facilities at the Buddhist Centre 4 ## Carers wellbeing ## Hospital wellbeing ## Providing for needs of Buddhists in Birmingham ## Volunteers 5 ## Supporting other charities Finally ## FINANCIAL REVIEW 6 ## ACCOUNTING AND REPORTING BY CHARITIES ## Trustees’ Responsibilities ## Risk Management ## Policy on Financial Reserves **----- Start of picture text -----**
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’ ’ 7 charity incur5 current liabilitie5 in the running of the Buddhist Centre. Therefore the council has agreed that the charity should maintain a cash reserve of at least £60,000 and review this sum annually. So that we may continue to meet this requirement, we will give attention to increasing income and restraining current expenditure. The charity also has some cash reserves invested short-term in savings accounts, most of which has been earmarked for further refurbishments to the Birmingham Buddhist Centre and our residential properties and the repayment of the loan to Triodos Bank. On behalf of the Trustees Maitrisara On behalf of the Trustees Dharmashura Approved by the Trustees 13th October 2023 ## **BIRMINGHAM BUDDHIST CENTRE** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023** ## **STATEMENT OF FINANCIAL ACTIVITIES 2022/23** |**Notes**
**INCOMING RESOURCES**
Donations and Legacies
2
Activities to Further Charity Objectives
2
Investment Income
2
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Direct Charitable Expenditure**
Buddhist Centre Administration
3
Property Running Expenses
3
Financial and Other Costs
3
**TOTAL RESOURCES EXPENDED**
**NET INCOME/EXPENDITURE**
**TRANSFERS**
Transfers to General Fund
4
**NET MOVEMENT IN FUNDS**
Balance brought forward
Prior Year Adjustments
Balance carried forward|**General**
**Fund**
**Designated**
**Funds**
**Restricted**
**2022/23**
**Total**
**2021/22**
**Total**
**£**
**£**
**£**
**£**
**£**
67,604
0
0
67,604
68,260
110,349
122,483
16,754
249,586
236,146
768
1,085
4
1,858
349
**Unrestricted Funds**| |---|---| ||178,721
123,568
16,758
319,047
304,755| ||134,221
21,241
9,027
164,489
147,674
19,090
28,772
147
48,010
53,999
16,631
58,720
1,189
76,540
78,246| ||169,942
108,734
10,363
289,040
279,920| ||| ||8,779
14,834
6,395
30,008
24,835| ||12,197
-500
-11,697
0
0| ||20,976
14,334
-5,302
30,008
24,835| ||| ||1,262,102
93,266
14,552
1,369,920
1,345,084| ||45
0
0
45
1| ||1,283,123
107,600
9,250
1,399,973
1,369,920| ## **BALANCE SHEET AT 31 MAY 2023** |**Notes**
**FIXED ASSETS**
Freehold Property
7
Vehicle
7
Equipment
7
**CURRENT ASSETS**
Bookshop Stock
Accrued Revenue
Prepaid Expenses
Other Debtors
8
Bank Savings Accounts
Bank Current Accounts
Cash in Hand
**LIABILITIES (falling due within 1 year)**
Loans
9
Trade Creditors
Tenant and Key Deposits
Accrued Expenses
Prepaid Revenue
**LIABILITIES (falling due after 1 year)**
Loans
9
**NET ASSETS**
**FINANCED BY**
General Fund
Designated Funds
10
Restricted Funds
11|**31/05/23**
**£**
1,738,772
0
132
1,738,904
7,320
5,357
5,170
3,316
138,140
148,563
150
308,015
48,768
7,652
2,791
2,575
5,153
66,938
580,009
580,009
1,399,973
1,283,123
107,600
9,250
1,399,973|**31/05/22**
**£**
1,785,296
0
543| |---|---|---| |||1,785,839| |||5,475
14,660
2,284
2,088
122,432
128,090
155| |||275,183| |||49,113
2,024
2,416
387
8,342| |||62,281| |||628,777| |||628,777| |||| |||1,369,965| |||1,262,102
93,266
14,552| |||1,369,965| Note: Fixed Asset values for prior year re-presented - no change in Fixed Asset total. Note: Prior year Trade Creditors reduced by £45 from accounts presented last year. ## **NOTES TO THE FINANCIAL STATEMENTS** ## **1. PRINCIPAL ACCOUNTING POLICIES** **a)** Basis of accounting: The financial statements have been prepared in the light of applicable charity law and accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP). **b)** Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received. All income is included on a receivable basis. **c)** All liabilities are recognised in the Statement of Financial Activities at the point at which the charity is deemed to have become contractually liable for payment. The trustees do not consider that the charity had any contingent liabilities at the Balance Sheet date. **d)** Unrestricted funds are donations and other income received or generated for charitable purposes. **e)** Restricted funds are used for specific purposes laid down by the donor. Expenditure that meets these criteria is charged to that fund. **f)** Designated funds are unrestricted funds designated by the trustees for particular purposes. **g)** All tangible assets (including freehold property) over £1,000 are depreciated at rates calculated to write off the cost of each asset evenly over its estimated useful life. The estimated useful lives are as follows: |Computers, Equipment and Fittings|4 years| |---|---| |Motor Vehicles|4 years| |Fixtures and Installations|10 years| |Freehold Property|50 years| **h)** Management and administration costs of the charity relate to the central costs of the management including the costs of statutory compliance. **i)** Debtors are measured at their recoverable amounts. **j)** Creditors and provision for liabilities are measured at their settlement value or best estimate. **k)** Stocks of books, publications and other bookshop products are valued at the lower of cost and net realisable value. **l)** The charity has taken advantage of the option in the SORP not to prepare a Cash Flow Statement on the grounds that it is not a large charity. ## **2. ANALYSIS OF INCOMING RESOURCES** |**Donations and Legacies**|**2022/23**
**£**|**2021/22**
**£**| |---|---|---| |Donations
Coronavirus Job Retention Scheme
**Activities to Further the Charity's Objectives**|67,604
0
67,604|67,587
673
68,260| |Classes and Retreats
Bookshop
Rental Income (Buddhist Communities)
Room Hire
Carers Project
Mindfulness
Miscellaneous Centre Activities
Other Income
**Investment Income**|38,354
10,934
118,272
44,000
16,754
0
4,673
16,599
249,586|24,795
8,401
114,294
32,359
50,167
900
4,134
1,097
236,146| |Interest on Savings Accounts
**Total Income**|1,858
1,858
**319,047**|349
349
**304,755**| ## **3. ANALYSIS OF RESOURCES EXPENDED** |**3. ANALYSIS OF RESOURCES EXPENDED**||| |---|---|---| |**Buddhist Centre Administration**|**2022/23**
**£**|**2021/22**
**£**| |Bookshop Purchases
Centre Team Costs
Office Running Costs
Insurance
Publicity
Centre Activities
Carers Project
Centre Administration Costs
**Property Running Expenses**|6,648
92,303
2,307
8,465
1,101
37,791
9,027
6,846
164,489|5,272
85,912
1,865
8,182
448
14,267
25,141
6,589
147,674| |Council Tax
Property Maintenance
Major Works and Improvements
Utilities
**Financial and Other Costs**|8,721
24,339
1,000
13,950
48,010|8,415
22,713
14,277
8,594
53,999| |Mortgage Costs
Depreciation of Freehold Property
Donations
Legal and Professional Costs
Independent Examination
Governance: Attendance Expenses
Fundraising Costs
Sundry Expenses
**Total Expenses**|21,220
47,500
6,345
0
275
0
273
928
76,540
**289,040**|22,759
47,500
6,466
0
250
0
318
953
78,246
**279,920**| ## **4. TRANSFERS** Transfers represent contributions to staff costs and overheads from the Carers Project and the Warwick Group, also a sum transferred to Restricted Funds to account for key deposits received during the year. ## **5. INFORMATION REGARDING STAFF** The charity employed 6 full-time-equivalent staff during the year who were in receipt of remuneration referred to as 'support'. To calculate their support requirements staff are asked to assess what they need. No employee was paid more than £60,000. The charity is also assisted by many unpaid volunteer workers. ||**£**| |---|---| |Aggregate Support|81,955| |Aggregate Employer's NI|0| |Aggregate Employer's Pension Contributions|4,542| ## **6. TRUSTEES** The trustees do not receive any emolument for their services as trustees, but 3 trustees received support payments for other services provided to the charity (included in note 5). 3 trustees were also reimbursed for receipted goods and services purchased on behalf of the charity. |
on behalf of the charity.|| |---|---| ||**£**| |Support|38,043| |Out of Pocket Expenses|13,930| One trustee paid rent at the going rate as a tenant in one of our community houses. ## **7. TANGIBLE FIXED ASSETS** The valuation of freehold property was last reviewed in June 2010. |**Depreciation was charged as follows:**|**£**| |---|---| |Cumulative charge at 31 May 2022|608,936| |Charged during the year|47,500| |Cumulative charge at 31 May 2023|656,436| |**Depreciation of other assets:**|**£**| |---|---| |Cumulative charge at 31 May 2022|52,295| |Charged during the year|7,183| |Cumulative charge at 31 May 2023|59,477| No fixed assets were written down or written off during the year. The charity's depreciation policy was last reviewed (but not changed) in August 2022. ## **8. DEBTORS** Debtors represents invoices unpaid at the end of the year. There is a reasonable expectation that all of this sum is recoverable. ## **9. CREDITORS** Loans represents the capital repayments due on the mortgages for 12 Park Road, 36 Park Hill and 80 Park Hill. ## **10. DESIGNATED FUNDS** This represents: (a) Residue of the Llewellyn legacy which has been allocated, along with other funds raised specifically for the purpose, to the refurbishment of the Buddhist Centre (to be used in the next five years). (b) Money set aside for improvements to our residential properties and to help repay the mortgages (to be used when required). (c) Funds generated by and for the Warwick Group (to be used as needed). ## **11. RESTRICTED FUNDS** This represents: (a) Funds relating to the Carers Wellbeing Project. (b) Deposits held for tenants and keyholders. (c) Funds held for the Jewel Quest series of retreats. (d) Funds collected to pay for local Buddhists to go on retreat. (e) Funds collected to help team member with mobility issues. ## **Independent Examiner’s Report** **Report to the trustees of** BIRMINGHAM BUDDHIST CENTRE **Accounts for year ended** 31 May 2023 **Charity no** 516568 I report to the trustees on my examination of the accounts of the above charity for the year ended 31 May 2023. **Responsibilities and basis of** As the charity's trustees, you are responsible for the preparation of the accounts in **report** accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent examiner's** The charity’s gross income exceeded £250,000 and I am qualified to undertake the **statement** examination by being a member of the Association of Certified Chartered Accountants. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body:**
**Address:**|Annemie Philips|25/09/2023| |---|---|---| |||| ||Annemie Philips (Satyapara)|| |||| ||Association of Certified Chartered Accountants.|| |||| ||9 Linden Road, Hampton, TW12 2JG||